Besides ‘traditional’ topics such as the trade conflict and Brexit, the currency depreciation raging in a number of emerging markets and the Italian budget saga defined the fortunes of equity, fixed-income and currency markets. Our expert, Johan Gallopyn, outlines the main trends of the month of September.

While the objectives of the European Union have been revised upwards, some countries have lowered their expectations in order to have a more realistic chance of attaining their goals. This is in part because, to date, the results achieved in terms of fighting climate change have generally been disappointing.